CRCL is trading at $52.81, down 4.07% in pre-market action as a sharp decline in major cryptocurrencies and mounting structural headwinds pressure the stock.
- Bitcoin and Ethereum have fallen over 8% in the last 24 hours, dragging down crypto-related equities in a correlated market move.
- Circle faces increased competition from Tether’s USAT and Fidelity’s FIDD, alongside rising distribution costs to partners like Coinbase that are squeezing margins.
- Shares have retreated more than 60% from 2025 highs due to regulatory uncertainty and concerns over the medium-term growth potential of USDC.